Grant Thornton TaxPod - May 2022

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About TaxPod

The Indian tax and regulatory space is changing at an unprecedented rate. We are witnessing policy announcements, legislative changes, judicial precedents and clarifications almost daily. This has made it challenging for corporate professionals to stay abreast of relevant developments. The aim of the TaxPod series is to keep you updated with key tax and regulatory developments of the past month, in a few minutes. Please do provide your feedback to us about this edition of the taxpod at nto@in.gt.com.

What’s new

  • Supreme Court settles controversy on reassessment notices issued after 1 April 2021
  • Organisation for Economic Co-operation and Development (OECD) releases Draft Model Rules for the Extractives Exclusion and public consultation document on the Regulated Financial Services Exclusion for Amount A of Pillar 1
  • Gujarat High Court has held that the circular issued to impose new restriction under the Export Promotion Capital Goods Scheme is ultra vires

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